Remember the Laffer Curve, the curve that economist
Arthur Laffer drew on a napkin
in a restaurant meal in 1994 with Ford Administration biggies Rumsfeld and Cheney and the late, great
Bob Bartley?
Stephen Moore reminds us what
happens when a government implements the Laffer Curve by lowering tax rates. Tax revenues take a jump.
Individual and corporate income tax receipts have exploded like a cap let off a geyser, up 30% in the two years since the tax cut.
Tax collections from non-withheld income (i.e., dividends and capital gains) are up over 30 percent
in the last year.
No comments:
Post a Comment